Can I retire at age 47 with 1,960,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,960,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$161,855$160,413$159,007$157,634$156,293$150,449
2 years$80,126$78,634$77,188$75,785$74,425$68,604
3 years$52,887$51,388$49,946$48,556$47,218$41,604
4 years$39,270$37,776$36,348$34,982$33,677$28,311
5 years$31,102$29,617$28,207$26,870$25,600$20,498
6 years$25,658$24,184$22,796$21,488$20,257$15,421
7 years$21,771$20,310$18,943$17,666$16,474$11,903
8 years$18,858$17,409$16,065$14,820$13,667$9,357
9 years$16,593$15,158$13,837$12,623$11,510$7,455
10 years$14,782$13,361$12,064$10,881$9,807$5,999
11 years$13,301$11,894$10,621$9,470$8,434$4,866
12 years$12,068$10,676$9,425$8,307$7,309$3,971
13 years$11,025$9,648$8,421$7,333$6,373$3,257
14 years$10,132$8,770$7,566$6,510$5,587$2,681
15 years$9,359$8,011$6,831$5,806$4,919$2,214
16 years$8,684$7,350$6,194$5,198$4,348$1,834
17 years$8,088$6,769$5,636$4,671$3,855$1,521
18 years$7,559$6,255$5,145$4,209$3,428$1,265
19 years$7,086$5,797$4,710$3,803$3,055$1,053
20 years$6,661$5,387$4,323$3,445$2,729$877
21 years$6,278$5,018$3,976$3,126$2,442$732
22 years$5,929$4,684$3,664$2,842$2,189$611
23 years$5,611$4,381$3,383$2,589$1,965$510
24 years$5,320$4,104$3,129$2,361$1,766$426
25 years$5,053$3,852$2,898$2,156$1,589$357
26 years$4,807$3,620$2,688$1,972$1,431$298
27 years$4,579$3,407$2,496$1,805$1,291$250
28 years$4,368$3,210$2,320$1,653$1,165$209
29 years$4,172$3,029$2,159$1,516$1,052$175
30 years$3,990$2,860$2,011$1,392$950$147
31 years$3,819$2,704$1,875$1,278$859$123
32 years$3,660$2,558$1,749$1,174$777$103
33 years$3,510$2,423$1,633$1,080$703$86
34 years$3,370$2,296$1,526$994$637$72
35 years$3,237$2,178$1,427$915$577$60
36 years$3,113$2,067$1,335$843$522$51
37 years$2,995$1,963$1,249$776$474$42
38 years$2,884$1,866$1,170$715$429$36
39 years$2,779$1,774$1,096$660$389$30
40 years$2,680$1,688$1,027$608$353$25
41 years$2,585$1,607$963$561$320$21
42 years$2,495$1,530$904$518$291$18
43 years$2,410$1,458$848$478$264$15
44 years$2,329$1,390$796$442$239$12
45 years$2,251$1,325$747$408$217$10
46 years$2,178$1,264$702$377$197$9
47 years$2,107$1,207$660$348$179$7
48 years$2,040$1,152$620$322$163$6
49 years$1,975$1,100$583$297$148$5
50 years$1,914$1,051$548$275$134$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 47 starting with $1,960,000, adding $2,552 every year, while hoping to spend $22,818 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 53/41/6 Blend
46$1,960,000$1,960,000$1,960,000$1,960,000
47$2,162,552$2,058,672$2,028,292$2,274,049
48$2,358,855$2,135,269$2,071,962$2,426,402
49$2,574,415$2,214,854$2,116,330$2,589,340
50$2,811,173$2,297,550$2,161,395$2,766,043
51$3,071,267$2,383,485$2,207,156$2,957,813
52$3,357,052$2,472,791$2,253,611$3,166,082
53$3,671,121$2,565,607$2,300,757$3,392,426
54$4,016,331$2,662,078$2,348,588$3,638,575
55$4,395,832$2,762,355$2,397,101$3,906,433
56$4,813,092$2,866,596$2,446,289$4,198,093
57$5,271,932$2,974,964$2,496,145$4,515,857
58$5,776,563$3,087,631$2,546,659$4,862,258
59$6,331,624$3,204,776$2,597,823$5,240,082
60$6,942,225$3,326,585$2,649,626$5,652,393
61$7,613,998$3,453,253$2,702,054$6,102,563
62$8,353,147$3,584,984$2,755,094$6,594,302
63$9,166,508$3,721,989$2,808,730$7,131,695
64$10,061,615$3,864,489$2,862,946$7,719,233
65$11,046,766$4,012,716$2,917,721$8,361,864
66$12,131,108$4,166,910$2,973,036$9,065,030
67$13,324,715$4,327,323$3,028,867$9,834,725
68$14,638,692$4,494,218$3,085,190$10,677,544
69$16,085,273$4,667,869$3,141,978$11,600,748
70$17,677,937$4,848,561$3,199,201$12,612,335
71$19,431,541$5,036,595$3,256,829$13,721,104
72$21,362,452$5,232,281$3,314,826$14,936,750
73$23,488,705$5,435,947$3,373,156$16,269,944
74$25,830,176$5,647,931$3,431,779$17,732,437
75$28,408,764$5,868,589$3,490,654$19,337,172
76$31,248,601$6,098,294$3,549,734$21,098,398
77$34,376,279$6,337,431$3,608,971$23,031,812
78$37,821,100$6,586,405$3,668,312$25,154,699
79$41,615,354$6,845,641$3,727,702$27,486,096
80$45,794,622$7,115,579$3,787,082$30,046,971
81$50,398,111$7,396,681$3,846,387$32,860,419
82$55,469,029$7,689,428$3,905,551$35,951,878
83$61,054,985$7,994,325$3,964,502$39,349,367
84$67,208,443$8,311,897$4,023,164$43,083,751
85$73,987,219$8,642,695$4,081,454$47,189,028
86$81,455,021$8,987,292$4,139,289$51,702,650
87$89,682,054$9,346,290$4,196,575$56,665,874
88$98,745,680$9,720,315$4,253,217$62,124,147
89$108,731,152$10,110,023$4,309,112$68,127,539
90$119,732,415$10,516,099$4,364,153$74,731,207
91$131,852,993$10,939,260$4,418,224$81,995,916
92$145,206,968$11,380,253$4,471,204$89,988,612
93$159,920,055$11,839,862$4,522,965$98,783,048
94$176,130,789$12,318,904$4,573,373$108,460,481
95$193,991,832$12,818,234$4,622,285$119,110,435
96$213,671,418$13,338,745$4,669,549$130,831,541
97$235,354,931$13,881,373$4,715,008$143,732,470
98$259,246,668$14,447,094$4,758,495$157,932,952
99$285,571,756$15,036,929$4,799,833$173,564,903
100$314,578,284$15,651,948$4,838,836$190,773,671